Question 1

A will that is executed by two or more testators is known as a ________.

Accepted Answer

A) joint will 
B) mutual will 
C) reciprocal will 
D) nuncupative will 
A) joint will 
B) mutual will 
C) reciprocal will 
D) nuncupative will

Question 2

Which of the following is a benefit of a living trust?

Accepted Answer

A) It helps reduce estate taxes more than a will does. 
B) It helps avoid probate on the property. 
C) It is not subject to property division upon divorce. 
D) It does not allow creditors to obtain liens against the property. 
A) It helps reduce estate taxes more than a will does. 
B) It helps avoid probate on the property. 
C) It is not subject to property division upon divorce. 
D) It does not allow creditors to obtain liens against the property.

Question 3

According to the doctrine of ademption, the lineal descendants inherit by representation of their parent.

Accepted Answer

A) True 
 B)False

Question 4

In a spendthrift trust, all control over the trust is removed from the beneficiary.

Accepted Answer

A) True 
 B)False

Question 5

Pursuant to per capita distribution, all the lineal descendants equally share the property of the estate.

Accepted Answer

A) True 
 B)False

Question 6

A gift of $100, 000 to a named beneficiary is an example of a general gift.

Accepted Answer

A) True 
 B)False

Question 7

A will can be created to come into effect during one's lifetime.

Accepted Answer

A) True 
 B)False

Question 8

A(n)________ is a distribution of an estate in which each grandchild and greatgrandchild of the deceased inherits equally with the children of the deceased.

Accepted Answer

A) abatement 
B) per stirpes distribution 
C) per capita distribution 
D) ademption 
A) abatement 
B) per stirpes distribution 
C) per capita distribution 
D) ademption

Question 9

Which of the following does a health care directive outline?

Accepted Answer

A) which life-saving measures the signor does and does not want 
B) what treatments are to be withdrawn if doctors determine there is no hope of a meaningful recovery 
C) why the signor has decided to withdraw life-support systems 
D) who is to make all health care decisions in accordance with the living will on behalf of the signor 
A) which life-saving measures the signor does and does not want 
B) what treatments are to be withdrawn if doctors determine there is no hope of a meaningful recovery 
C) why the signor has decided to withdraw life-support systems 
D) who is to make all health care decisions in accordance with the living will on behalf of the signor

Question 10

The ________ is an act in the United States that provides that if people who would inherit property from each other die such that it cannot be determined who died first, each person's property is distributed as though he or she had survived.

Accepted Answer

A) Succession Act of 1995 
B) Family Law Act of 1986 
C) Uniform Determination of Death Act 
D) Uniform Simultaneous Death Act 
A) Succession Act of 1995 
B) Family Law Act of 1986 
C) Uniform Determination of Death Act 
D) Uniform Simultaneous Death Act

Question 11

A ________ is a document that states which life-saving measures the signor does and does not want along with specifying that he or she wants such treatments withdrawn if doctors determine that there is no hope of a meaningful recovery.

Accepted Answer

A) living will 
B) health care directive 
C) health care proxy 
D) living trust 
A) living will 
B) health care directive 
C) health care proxy 
D) living trust

Question 12

In an inter vivos trust, the settlor transfers legal title of property to a named trustee to hold, administer, and manage for the benefit of named beneficiaries while he or she is alive.

Accepted Answer

A) True 
 B)False

Question 13

Reductions under the doctrine of abatement are proportionate for all beneficiaries ________.

Accepted Answer

A) when there are residuary gifts and special gifts 
B) when there are residuary and general gifts 
C) when there are only general gifts 
D) when there are only residuary gifts 
A) when there are residuary gifts and special gifts 
B) when there are residuary and general gifts 
C) when there are only general gifts 
D) when there are only residuary gifts

Question 14

The action of a will being witnessed by two or three objective and competent people is known as ________.

Accepted Answer

A) attestation 
B) abatement 
C) escheating 
D) ademption 
A) attestation 
B) abatement 
C) escheating 
D) ademption

Question 15

What is a person's right to die? What are the views regarding the legality of euthanasia in the United States?

Accepted Answer

One legal issue that has been prominent

Question 16

What is the attestation clause for wills?

Accepted Answer

A) the condition that the witness must reside in the jurisdiction in which the testator is domiciled 
B) the stipulation that only the testator's attorney can be a witness to the will 
C) the requirement of signatures of witnesses on a will after that of the testator's 
D) the requirement of the beneficiary's presence when making the will 
A) the condition that the witness must reside in the jurisdiction in which the testator is domiciled 
B) the stipulation that only the testator's attorney can be a witness to the will 
C) the requirement of signatures of witnesses on a will after that of the testator's 
D) the requirement of the beneficiary's presence when making the will

Question 17

A living will states a person's wishes regarding estate planning.

Accepted Answer

A) True 
 B)False

Question 18

A will has to be composed on legal paper to be considered valid.

Accepted Answer

A) True 
 B)False

Question 19

A will cannot be amended by merely striking out existing provisions and adding new ones.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true of a living trust?

Accepted Answer

A) It comes in to effect after the death of the grantor. 
B) It helps reduce the income tax for the grantor. 
C) It can be revoked during the grantor's lifetime. 
D) It is considered a public record subject to probate. 
A) It comes in to effect after the death of the grantor. 
B) It helps reduce the income tax for the grantor. 
C) It can be revoked during the grantor's lifetime. 
D) It is considered a public record subject to probate.

Exam 52: Wills Trusts and Estates

A will that is executed by two or more testators is known as a ________.

Which of the following is a benefit of a living trust?

According to the doctrine of ademption, the lineal descendants inherit by representation of their parent.

In a spendthrift trust, all control over the trust is removed from the beneficiary.

Pursuant to per capita distribution, all the lineal descendants equally share the property of the estate.

A gift of $100, 000 to a named beneficiary is an example of a general gift.

A will can be created to come into effect during one's lifetime.

A(n)________ is a distribution of an estate in which each grandchild and greatgrandchild of the deceased inherits equally with the children of the deceased.

Which of the following does a health care directive outline?

The ________ is an act in the United States that provides that if people who would inherit property from each other die such that it cannot be determined who died first, each person's property is distributed as though he or she had survived.

A ________ is a document that states which life-saving measures the signor does and does not want along with specifying that he or she wants such treatments withdrawn if doctors determine that there is no hope of a meaningful recovery.

In an inter vivos trust, the settlor transfers legal title of property to a named trustee to hold, administer, and manage for the benefit of named beneficiaries while he or she is alive.

Reductions under the doctrine of abatement are proportionate for all beneficiaries ________.

The action of a will being witnessed by two or three objective and competent people is known as ________.

What is a person's right to die? What are the views regarding the legality of euthanasia in the United States?

What is the attestation clause for wills?

A living will states a person's wishes regarding estate planning.

A will has to be composed on legal paper to be considered valid.

A will cannot be amended by merely striking out existing provisions and adding new ones.

Which of the following is true of a living trust?

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